v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (96,231) $ (114,329)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 2,202 2,498  
Stock-based compensation 13,479 21,840  
Accretion of investment discounts (535) (2,280)  
Change in fair value of investments, net 904 2,125 $ 0
Changes in operating assets and liabilities:      
Accounts receivable 337 (1,987)  
Prepaid expenses and other current assets (12,972) 218  
Operating lease right-of-use assets 8,411 7,218  
Other assets (74) (13,826)  
Accounts payable (1,420) (1,869)  
Accrued expenses (11,947) (14,415)  
Deferred revenue (6,660) (5,095)  
Operating lease liabilities (12,840) (29,028)  
Net cash used in operating activities (117,346) (148,930)  
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property and equipment (79) (735)  
Purchases of marketable securities (46,965) (83,209)  
Sales and maturities of marketable securities 113,354 178,272  
Net cash provided by investing activities 66,310 94,328  
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net cash provided by financing activities 33,569 0  
Net decrease in cash, cash equivalents and restricted cash equivalents (17,467) (54,602)  
Cash, cash equivalents and restricted cash equivalents, beginning of period 167,568 202,787 202,787
Cash, cash equivalents and restricted cash equivalents, end of period 150,101 148,185 167,568
Reconciliation of cash, cash equivalents and restricted cash equivalents to condensed consolidated balance sheet:      
Cash and cash equivalents 134,697 126,880 155,464
Restricted cash equivalents, included in prepaid expenses and other current assets,and investments and other assets 15,404 21,305  
Total cash, cash equivalents and restricted cash equivalents 150,101 148,185 $ 167,568
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Purchases of property and equipment unpaid at period end 0 82  
Reduction of right-of-use assets from remeasurement of lease liabilities 0 61,917  
At The Market Offerings [Member]      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net proceeds from issuance of common stock through at-the-market offerings $ 33,569 $ 0